Tuesday, July 26, 2011

America's Debt: If It is So Bad, Why Do They Do It to Themselves Again and Again

Here's a thought for the day...

If debt is so dangerous, as the Republicans claim, why do home owners typically go into debt at roughly 300% of the income level to buy a house? This makes the US federal debt at 100% of the GDP look like fiscal prudence.

If families followed the Republican mantra, nobody would buy a house without 100% cash down. In short, the already crippled housing market would completely stop functioning. Chalk up a "win" for Republican fiscal "prudence".

Take a look at this awning chasm of debt that has the Republicans convinced they must stage Armageddon to "save America from itself"...

That increase in debt was a one-time-event to save the US from going into a Great Depression, something which the Republican party knows all too well because their man, Herbert Hoover, led the nation into the Great Depression.

So why are the Republicans on a tear and ready to destroy the country by going into default on "America's credit card" over debt? Because they smell political blood and they are going after Obama to destroy him (and the country as the innocent victim in this political "game") in order to win elections in 2012.

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